The Cigna Group Announced Late Friday It Has Settled Pending Legal Issues Related To Past Medicare Advantage Risk Adjustment Practices And Will Pay ~$172M Under Agreement With Federal Government
Portfolio Pulse from Charles Gross
The Cigna Group (NYSE:CI) has settled legal issues related to past Medicare Advantage risk adjustment practices. The company will pay approximately $172 million under agreements with the federal government. This resolves a False Claims Act lawsuit and an investigation related to past risk adjustment submissions from certain types of patient records.
September 30, 2023 | 1:07 pm
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Cigna's settlement of legal issues related to past Medicare Advantage risk adjustment practices could potentially impact its financials in the short term due to the $172 million payment.
The settlement of $172 million is a significant amount that could impact Cigna's financials in the short term. However, the resolution of these legal issues removes a degree of uncertainty and potential further legal costs for the company.
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